10-Q2012-11-30falseGlobal Stevia Corp.0001492135--05-31299300000Smaller Reporting CompanyYesNoNo2013Q2074874151045000151011987450000034720549821198743953356139880003963113613223639125000263270138613299300299000-137659-243059-369929-74680-208288-18739549821198746636100.0010.001975000000975000000299300000299000000299300000299000000000003300496049641803146351574812299819319616000040000048000281860760600107025863191463527403722998348717-86319-14635-274037-22998-348717-134570-212120-21212-99776-14635-295249-22998-3699290.00.00.00.0299300000299000000299267213262823730-295249-22998-3699299339093394960496434900-151060474091166027873027873-7902098-215906-22589-321973-500000-50000-39680-3968-539680-5396816500002900000128002294130000200006300019500032800375941-74874102110226010437000000<!--egx--><pre>1. NATURE OF OPERATIONS AND CONTINUANCE OF BUSINESS</pre><pre>&nbsp;</pre><pre>Global Stevia Corp. (the&nbsp; "Company") was&nbsp; incorporated in the state of Nevada on</pre><pre>February 3, 2010.&nbsp; The Company is a&nbsp; development&nbsp; stage&nbsp; company,&nbsp; as defined by</pre><pre>Financial Accounting Standards Board ("FASB") Accounting Standards&nbsp; Codification</pre><pre>("ASC")&nbsp; 915,&nbsp; DEVELOPMENT&nbsp; STAGE&nbsp; ENTITIES.&nbsp; The&nbsp; Company&nbsp; has&nbsp; incorporated&nbsp; a</pre><pre>wholly-owned&nbsp; subsidiary,&nbsp; Sharelink International Inc ("Sharelink"),&nbsp; a British</pre><pre>Virgin Islands company.</pre><pre>&nbsp;</pre><pre>GOING CONCERN</pre><pre>&nbsp;</pre><pre>These financial&nbsp; statements&nbsp; have been prepared on a going concern basis,&nbsp; which</pre><pre>implies that the Company will&nbsp; continue to realize its assets and&nbsp; discharge its</pre><pre>liabilities&nbsp; in the normal&nbsp; course of business.&nbsp; As of November&nbsp; 30,&nbsp; 2012,&nbsp; the</pre><pre>Company&nbsp; has not&nbsp; recognized&nbsp; any&nbsp; revenue,&nbsp; and has an&nbsp; accumulated&nbsp; deficit of</pre><pre>$369,929.&nbsp; The&nbsp; continuation of the Company as a going concern is dependent upon</pre><pre>the continued financial support from its management, and its ability to identify</pre><pre>future&nbsp; investment&nbsp; opportunities&nbsp; and&nbsp; obtain&nbsp; the&nbsp; necessary&nbsp; debt&nbsp; or&nbsp; equity</pre><pre>financing,&nbsp; and&nbsp; generating&nbsp; profitable&nbsp; operations&nbsp; from the&nbsp; Company's&nbsp; future</pre><pre>operations.&nbsp; These&nbsp; factors&nbsp; raise&nbsp; substantial&nbsp; doubt&nbsp; regarding&nbsp; the Company's</pre><pre>ability to&nbsp; continue&nbsp; as a going&nbsp; concern.&nbsp; These&nbsp; financial&nbsp; statements&nbsp; do not</pre><pre>include any adjustments to the&nbsp; recoverability&nbsp; and&nbsp; classification&nbsp; of recorded</pre><pre>asset amounts and&nbsp; classification&nbsp; of liabilities that might be necessary should</pre><pre>the Company be unable to continue as a going concern.</pre><!--egx--><pre>2. SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES</pre><pre>&nbsp;</pre><pre>a) Basis of Presentation and Consolidation</pre><pre>&nbsp;</pre><pre>The financial&nbsp; statements&nbsp; of the Company have been prepared in accordance&nbsp; with</pre><pre>accounting&nbsp; principles&nbsp; generally&nbsp; accepted in the United States ("US GAAP") and</pre><pre>are expressed in U.S. dollars. The Company's fiscal year end is May 31.</pre><pre>&nbsp;</pre><pre>The consolidated&nbsp; financial&nbsp; statements&nbsp; include the accounts of our company and</pre><pre>its wholly-owned&nbsp; subsidiary,&nbsp; Sharelink.&nbsp; All significant intercompany accounts</pre><pre>and transactions&nbsp; have been eliminated,&nbsp; and Sharelink had no operations to date</pre><pre>other than incorporation fees.</pre><pre>&nbsp;</pre><pre>b) Use of Estimates</pre><pre>&nbsp;</pre><pre>The&nbsp; preparation&nbsp; of financial&nbsp; statements in&nbsp; conformity&nbsp; with US GAAP requires</pre><pre>management to make estimates and assumptions that affect the reported amounts of</pre><pre>assets and&nbsp; liabilities&nbsp; and disclosure of contingent&nbsp; assets and liabilities at</pre><pre>the date of the financial&nbsp; statements&nbsp; and the reported&nbsp; amounts of revenues and</pre><pre>expenses during the reporting period. The Company regularly&nbsp; evaluates estimates</pre><pre>and assumptions&nbsp; related to the deferred income tax asset valuation&nbsp; allowances.</pre><pre>The Company bases its estimates and &nbsp;assumptions&nbsp; on current&nbsp; facts,&nbsp; historical</pre><pre>experience and various other factors that it believes to be reasonable under the</pre><pre>circumstances,&nbsp; the results of which form the basis for making&nbsp; judgments&nbsp; about</pre><pre>the&nbsp; carrying&nbsp; values of assets&nbsp; and&nbsp; liabilities&nbsp; and the&nbsp; accrual of costs and</pre><pre>expenses that are not readily&nbsp; apparent from other&nbsp; sources.&nbsp; The actual results</pre><pre>experienced&nbsp; by the&nbsp; Company&nbsp; may&nbsp; differ&nbsp; materially&nbsp; and&nbsp; adversely&nbsp; from&nbsp; the</pre><pre>Company's&nbsp; estimates.&nbsp; To the extent there are material&nbsp; differences between the</pre><pre>estimates and the actual results, future results of operations will be affected.</pre><pre>&nbsp;</pre><pre>c) Basic and Diluted Net Loss per Share</pre><pre>&nbsp;</pre><pre>The Company computes net loss per share in accordance with ASC 260, EARNINGS PER</pre><pre>SHARE.&nbsp; ASC 260&nbsp; requires&nbsp; presentation&nbsp; of both basic and diluted&nbsp; earnings per</pre><pre>share&nbsp; ("EPS") on the face of the income&nbsp; statement.&nbsp; Basic EPS is&nbsp; computed&nbsp; by</pre><pre>dividing net loss available to common&nbsp; shareholders&nbsp; (numerator) by the weighted</pre><pre>average number of shares outstanding&nbsp; (denominator)&nbsp; during the period.&nbsp; Diluted</pre><pre>EPS gives effect to all dilutive&nbsp; potential common shares outstanding during the</pre><pre>period using the treasury stock method and convertible preferred stock using the</pre><pre>if-converted&nbsp; method.&nbsp; In computing diluted EPS, the average stock price for the</pre><pre>period is used in determining&nbsp; the number of shares assumed to be purchased from</pre><pre>the&nbsp; exercise of stock&nbsp; options or&nbsp; warrants.&nbsp; Diluted EPS excludes all dilutive</pre><pre>potential shares if their effect is anti dilutive.&nbsp; As of November 30, 2012, the</pre><pre>Company had 2,900,000&nbsp; (May 31, 2012 - 1,250,000)&nbsp; potentially&nbsp; dilutive&nbsp; common</pre><pre>shares for the issuance of convertible debentures.</pre><pre>&nbsp;</pre><pre>d) Reclassification</pre><pre>&nbsp;</pre><pre>Certain&nbsp;&nbsp; balances&nbsp; in&nbsp; previously&nbsp;&nbsp; issued&nbsp;&nbsp; financial&nbsp;&nbsp; statements&nbsp; have&nbsp; been</pre><pre>reclassified to be consistent with the current period presentation.</pre><pre>&nbsp;</pre><pre>e) Interim Financial Statements</pre><pre>&nbsp;</pre><pre>These interim&nbsp; unaudited&nbsp; financial&nbsp; statements have been prepared in accordance</pre><pre>with accounting&nbsp; principles&nbsp; generally accepted in the United States for interim</pre><pre>financial information.&nbsp; They do not include all of the information and footnotes</pre><pre>required by generally&nbsp; accepted&nbsp; accounting&nbsp; principles&nbsp; for complete&nbsp; financial</pre><pre>statements.&nbsp; Therefore, these financial statements should be read in conjunction</pre><pre>with the Company's audited&nbsp; financial&nbsp; statements and notes thereto for the year</pre><pre>ended May 31, 2012.</pre><pre>&nbsp;</pre><pre>The financial&nbsp; statements included herein are unaudited;&nbsp; however,&nbsp; they contain</pre><pre>all&nbsp; normal&nbsp; recurring&nbsp;&nbsp; accruals&nbsp; and&nbsp; adjustments&nbsp; that,&nbsp; in&nbsp; the&nbsp; opinion&nbsp; of</pre><pre>management,&nbsp; are necessary to present fairly the Company's financial position at</pre><pre>November 30, 2012,&nbsp; and the results of its operations and cash flows for the six</pre><pre>month period ended&nbsp; November 30, 2012. The results of operations for the periods</pre><pre>ended&nbsp; November&nbsp; 30, 2012 are not&nbsp; necessarily&nbsp; indicative&nbsp; of the results to be</pre><pre>expected for future quarters or the full year.</pre><pre>&nbsp;</pre><pre>f) Cash and cash equivalents</pre><pre>&nbsp;</pre><pre>The Company&nbsp; considers&nbsp; all highly liquid&nbsp; instruments&nbsp; with a maturity of three</pre><pre>months or less at the time of issuance to be cash equivalents.</pre><pre>&nbsp;</pre><pre>g) Financial Instruments</pre><pre>&nbsp;</pre><pre>Pursuant&nbsp; to ASC 820,&nbsp; FAIR VALUE&nbsp; MEASUREMENTS&nbsp; AND&nbsp; DISCLOSURES,&nbsp; an entity is</pre><pre>required&nbsp; to&nbsp; maximize&nbsp; the use of&nbsp; observable&nbsp; inputs and&nbsp; minimize&nbsp; the use of</pre><pre>unobservable&nbsp; inputs when measuring fair value. ASC 820 establishes a fair value</pre><pre>hierarchy based on the level of independent,&nbsp; objective evidence surrounding the</pre><pre>inputs used to measure&nbsp; fair&nbsp; value.&nbsp; A&nbsp; financial&nbsp; instrument's&nbsp; categorization</pre><pre>within the fair value&nbsp; hierarchy is based upon the lowest level of input that is</pre><pre>significant to the fair value&nbsp; measurement.&nbsp; ASC 820 prioritizes the inputs into</pre><pre>three levels that may be used to measure fair value:</pre><pre>&nbsp;</pre><pre>LEVEL 1</pre><pre>&nbsp;</pre><pre>Level 1 applies to assets or&nbsp; liabilities&nbsp; for which there are quoted&nbsp; prices in</pre><pre>active markets for identical assets or liabilities.</pre><pre>&nbsp;</pre><pre>LEVEL 2</pre><pre>&nbsp;</pre><pre>Level 2 applies to assets or&nbsp; liabilities&nbsp; for which there are inputs other than</pre><pre>quoted&nbsp; prices that are&nbsp; observable&nbsp; for the asset or&nbsp; liability&nbsp; such as quoted</pre><pre>prices for similar assets or liabilities&nbsp; in active&nbsp; markets;&nbsp; quoted prices for</pre><pre>identical&nbsp; assets&nbsp; or&nbsp; liabilities&nbsp; in&nbsp; markets&nbsp; with&nbsp; insufficient&nbsp;&nbsp; volume&nbsp; or</pre><pre>infrequent&nbsp; transactions (less active markets);&nbsp; or model-derived&nbsp; valuations in</pre><pre>which significant&nbsp; inputs are observable or can be derived&nbsp; principally from, or</pre><pre>corroborated by, observable market data.</pre><pre>&nbsp;</pre><pre>LEVEL 3</pre><pre>&nbsp;</pre><pre>Level 3 applies to assets or liabilities for which there are unobservable inputs</pre><pre>to the valuation methodology that are significant to the measurement of the fair</pre><pre>value of the assets or liabilities.</pre><pre>&nbsp;</pre><pre>The&nbsp; Company's&nbsp; financial&nbsp; instruments&nbsp; consist&nbsp; principally&nbsp; of cash,&nbsp; accounts</pre><pre>payable&nbsp; and&nbsp; accrued&nbsp; liabilities,&nbsp; convertible&nbsp; debentures,&nbsp; and amount due to</pre><pre>related&nbsp; parties.&nbsp; Pursuant&nbsp; to ASC 820 and 825,&nbsp; the fair&nbsp; value of our cash is</pre><pre>determined&nbsp; based on "Level 1" inputs,&nbsp; which consist of quoted prices in active</pre><pre>markets for identical&nbsp; assets. We believe that the recorded values of all of our</pre><pre>other&nbsp; financial&nbsp; instruments&nbsp; approximate&nbsp; their current fair values because of</pre><pre>their nature and respective maturity dates or durations.</pre><pre>&nbsp;</pre><pre>h) Recent Accounting Pronouncements</pre><pre>&nbsp;</pre><pre>The&nbsp; Company&nbsp; has&nbsp; implemented&nbsp; all new&nbsp; accounting&nbsp; pronouncements&nbsp; that are in</pre><pre>effect.&nbsp; These&nbsp; pronouncements did not have any material impact on the financial</pre><pre>statements&nbsp; unless&nbsp; otherwise&nbsp; disclosed,&nbsp; and the Company does not believe that</pre><pre>there are any other new&nbsp; accounting&nbsp; pronouncements&nbsp; that have been&nbsp; issued that</pre><pre>might have a material impact on its financial position or results of operations.</pre><!--egx--><pre>3. PROPERTY AND EQUIPMENT</pre><pre>&nbsp;</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; November 30, 2012</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Carrying&nbsp;&nbsp;&nbsp;&nbsp; May 31, 2012</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Carrying</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization&nbsp;&nbsp;&nbsp;&nbsp; (unaudited)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ----&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp; -----------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -----</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $</pre><pre>Computer equipment&nbsp;&nbsp;&nbsp;&nbsp; 3,968&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,472&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====</pre><!--egx--><pre>4. CONVERTIBLE DEBENTURE</pre><pre>&nbsp;</pre><pre>a) On May 18, 2012 the Company&nbsp; issued a convertible&nbsp; debenture in the amount of</pre><pre>$125,000.&nbsp; The&nbsp; convertible&nbsp; debenture is unsecured,&nbsp; bears&nbsp; interest at 10% per</pre><pre>annum, is due on May 18, 2014 and is convertible at the holder's discretion into</pre><pre>shares of the&nbsp; Company's&nbsp; common&nbsp; stock at $0.10 per share.&nbsp; As of November&nbsp; 30,</pre><pre>2012, $6,747 (May 31, 2012 - $nil) was included in accrued interest.</pre><pre>&nbsp;</pre><pre>b) On July 10, 2012 the Company issued a convertible&nbsp; debenture in the amount of</pre><pre>$100,000.&nbsp; The&nbsp; convertible&nbsp; debenture is unsecured,&nbsp; bears&nbsp; interest at 10% per</pre><pre>annum,&nbsp; is due on July 10, 2014 and is&nbsp; convertible&nbsp; at the holder's&nbsp; discretion</pre><pre>into shares of the Company's common stock at $0.10 per share. As of November 30,</pre><pre>2012, $3,918 (May 31, 2012 - $nil) was included in accrued interest.</pre><pre>&nbsp;</pre><pre>In accordance with ASC 470-20,&nbsp; "Debt with&nbsp; Conversion and Other&nbsp; Options",&nbsp; the</pre><pre>Company&nbsp; recognized the intrinsic&nbsp; value of the embedded&nbsp; beneficial&nbsp; conversion</pre><pre>feature of $44,000 as&nbsp; additional&nbsp; paid-in&nbsp; capital and an&nbsp; equivalent&nbsp; discount</pre><pre>which will be charged to operations over the term of the convertible&nbsp; note up to</pre><pre>its face value of $100,000 using the effective&nbsp; interest method.&nbsp; As at November</pre><pre>30, 2012, the Company recorded&nbsp; accretion expense of $7,568,&nbsp; and as at November</pre><pre>30, 2012, the book value of the convertible debenture was $63,568.</pre><pre>&nbsp;</pre><pre>c) On September 7, 2012 the Company issued a convertible debenture in the amount</pre><pre>of $35,000.&nbsp; The convertible&nbsp; debenture is unsecured,&nbsp; bears interest at 10% per</pre><pre>annum, is due on September 7, 2014 and is convertible at the holder's discretion</pre><pre>into shares of the Company's common stock at $0.10 per share. As of November 30,</pre><pre>2012, $805 (May 31, 2012 - $nil) was included in accrued interest.</pre><pre>&nbsp;</pre><pre>In accordance with ASC 470-20,&nbsp; "Debt with&nbsp; Conversion and Other&nbsp; Options",&nbsp; the</pre><pre>Company&nbsp; recognized the intrinsic&nbsp; value of the embedded&nbsp; beneficial&nbsp; conversion</pre><pre>feature of $7,700 as additional paid-in capital and an equivalent discount which</pre><pre>will be charged to operations&nbsp; over the term of the&nbsp; convertible&nbsp; note up to its</pre><pre>face value of $35,000 using the effective&nbsp; interest&nbsp; method.&nbsp; As at November 30,</pre><pre>2012,&nbsp; the Company&nbsp; recorded&nbsp; accretion&nbsp; expense of $877, and as at November 30,</pre><pre>2012, the book value of the convertible debenture was $28,177.</pre><pre>&nbsp;</pre><pre>d) On October 12, 2012 the Company issued a convertible&nbsp; debenture in the amount</pre><pre>of $30,000.&nbsp; The convertible&nbsp; debenture is unsecured,&nbsp; bears interest at 10% per</pre><pre>annum, is due on October 12, 2014 and is convertible at the holder's&nbsp; discretion</pre><pre>into shares of the Company's common stock at $0.10 per share. As of November 30,</pre><pre>2012, $403 (May 31, 2012 - $nil) was included in accrued interest.</pre><pre>&nbsp;</pre><pre>In accordance with ASC 470-20,&nbsp; "Debt with&nbsp; Conversion and Other&nbsp; Options",&nbsp; the</pre><pre>Company&nbsp; recognized the intrinsic&nbsp; value of the embedded&nbsp; beneficial&nbsp; conversion</pre><pre>feature of $24,000 as&nbsp; additional&nbsp; paid-in&nbsp; capital and an&nbsp; equivalent&nbsp; discount</pre><pre>which will be charged to operations over the term of the convertible&nbsp; note up to</pre><pre>its face value of $30,000 using the effective&nbsp; interest&nbsp; method.&nbsp; As at November</pre><pre>30, 2012, the Company recorded accretion expense of $894, and as at November 30,</pre><pre>2012, the book value of the convertible debenture was $6,894.</pre><!--egx--><pre>5. RELATED PARTY TRANSACTIONS</pre><pre>&nbsp;</pre><pre>a) During the period&nbsp; ended&nbsp; November&nbsp; 30, 2012,&nbsp; the Company&nbsp; incurred&nbsp; $40,000</pre><pre>(November&nbsp; 30,&nbsp; 2011 - $nil) of&nbsp; management&nbsp; fees to the&nbsp; former&nbsp; President&nbsp; and</pre><pre>Director of the Company.</pre><pre>&nbsp;</pre><pre>b) As at November&nbsp; 30,&nbsp; 2012,&nbsp; the Company owes $98 (May 31, 2012 - $nil) to the</pre><pre>President and Director of the Company, which is unsecured, non-interest bearing,</pre><pre>and due on demand.</pre><pre>&nbsp;</pre><pre>c) Stevia Global Vietnam,&nbsp; a company controlled by the President and Director of</pre><pre>the Company, is now a related party to the Company.</pre><!--egx--><pre>6. COMMON STOCK</pre><pre>&nbsp;</pre><pre>a) On June 18, 2012, the Company and its Board of Directors authorized a 13-to-1</pre><pre>forward&nbsp; split of its common&nbsp; shares.&nbsp; The&nbsp; effects of the&nbsp; forward&nbsp; stock split</pre><pre>increased the Company's authorized capital from 75,000,000 to 975,000,000 shares</pre><pre>of common stock and the Company's issued and outstanding&nbsp; shares of common stock</pre><pre>from&nbsp; 4,600,000&nbsp; to&nbsp; 59,800,000&nbsp; common&nbsp; shares,&nbsp; with a par value of $0.001 per</pre><pre>share. The effects of the forward stock split have been retrospectively&nbsp; applied</pre><pre>throughout these financial&nbsp; statements as if it had occurred at the beginning of</pre><pre>the first period presented.</pre><pre>&nbsp;</pre><pre>b) On June 20, 2012,&nbsp; the Company issued&nbsp; 300,000&nbsp; split-adjusted&nbsp; shares of the</pre><pre>Company's common stock for proceeds of $30,000.</pre><pre>&nbsp;</pre><pre>c) On August 28,&nbsp; 2012,&nbsp; the Company&nbsp; and its Board of&nbsp; Directors&nbsp; authorized&nbsp; a</pre><pre>5-to-1 forward stock split of its common shares. The effect of the forward stock</pre><pre>split increased the Company's issued and outstanding shares of common stock from</pre><pre>59,800,000 to 299,300,000&nbsp; common shares,&nbsp; with a par value of $0.001 per share.</pre><pre>The&nbsp; effects&nbsp; of the&nbsp; forward&nbsp; stock&nbsp; split&nbsp; have been&nbsp; retrospectively&nbsp; applied</pre><pre>throughout these financial&nbsp; statements as if it had occurred at the beginning of</pre><pre>the first period presented.</pre><!--egx--><pre>7. COMMITMENTS</pre><pre>&nbsp;</pre><pre>a) On August 1, 2012,&nbsp; the Company&nbsp; entered into a consulting&nbsp; agreement&nbsp; with a</pre><pre>non-related&nbsp; party,&nbsp; whereby the Company will pay a management fee of $8,000 per</pre><pre>month during the term of the consulting agreement for a twelve month period. The</pre><pre>consulting&nbsp; agreement&nbsp; can be&nbsp; terminated&nbsp; by&nbsp; providing&nbsp; at least 90 days prior</pre><pre>written notice to the other party.</pre><pre>&nbsp;</pre><pre>b) On July 12, 2012, the Company&nbsp; entered into a stock&nbsp; purchase&nbsp; agreement with</pre><pre>Stevia Global Trading Joint Stock Company ("Stevia Global Vietnam")&nbsp; pursuant to</pre><pre>which the Company agreed to acquire 95% of the issued and outstanding capital in</pre><pre>Stevia&nbsp; Global&nbsp; Vietnam in&nbsp; consideration&nbsp; for&nbsp; $300,000 to be paid in six equal</pre><pre>installments&nbsp; of $50,000 each between the signing of the&nbsp; agreement and June 15,</pre><pre>2013 as follows:</pre><pre>&nbsp;</pre><pre>Cash consideration to be paid:</pre><pre>&nbsp;</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; $50,000 on or before July 12, 2012 (paid);</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; a further $50,000 to be paid on or before September 15, 2012 (unpaid);</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; a further $50,000 to be paid on or before November 15, 2012 (unpaid);</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; a further $50,000 to be paid on or before February 15, 2013;</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; a further $50,000 to be paid on or before April 15, 2013; and</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp; *&nbsp;&nbsp;&nbsp; a further $50,000 to be paid on or before June 15, 2013.</pre><pre>&nbsp;</pre><pre>The&nbsp; acquisition&nbsp; of Stevia&nbsp; Global&nbsp; Vietnam&nbsp; will be&nbsp; finalized&nbsp; once the final</pre><pre>acquisition payment has been made. In addition to the acquisition agreement, the</pre><pre>Company entered into a services agreement with Stevia Global Vietnam whereby the</pre><pre>Company agrees to purchase all stevia products produced by Stevia Global Vietnam</pre><pre>for a period of one year from the date of the agreement.</pre><pre>&nbsp;</pre><pre>Upon the closing of the stock&nbsp; purchase&nbsp; agreement&nbsp; the Company&nbsp; will own 95% of</pre><pre>Stevia&nbsp; Global&nbsp; Vietnam.&nbsp; The $300,000&nbsp; purchase&nbsp; price is being paid for by the</pre><pre>Company&nbsp; and is&nbsp; solely&nbsp; for 95% of the&nbsp; stock of&nbsp; Stevia&nbsp; Global&nbsp; Vietnam.&nbsp; The</pre><pre>$300,000&nbsp; purchase&nbsp; price&nbsp; will&nbsp; be&nbsp; invested&nbsp; by&nbsp; Stevia&nbsp; Global&nbsp; Vietnam&nbsp; into</pre><pre>development of a large scale stevia plantation.&nbsp; None of the $300,000 is for the</pre><pre>purchase of product for the first year.</pre><pre>&nbsp;</pre><pre>The investment is recorded at cost due to the fact the&nbsp; acquisition has not been</pre><pre>finalized&nbsp; and the Company does not yet control&nbsp; Stevia&nbsp; Global&nbsp; Vietnam.&nbsp; After</pre><pre>acquisition, Stevia Global Vietnam will become a subsidiary of the Company.</pre><pre>&nbsp;</pre><pre>Stevia Global Vietnam, a company controlled by the President and Director of the</pre><pre>Company, is now a related party to the Company.</pre><!--egx--><pre>8. SUBSEQUENT EVENTS</pre><pre>&nbsp;</pre><pre>We&nbsp; have&nbsp; evaluated&nbsp; subsequent&nbsp; events&nbsp; through&nbsp; the&nbsp; date of&nbsp; issuance&nbsp; of the</pre><pre>financial&nbsp; statements,&nbsp; and did not have any&nbsp; material&nbsp; recognizable&nbsp; subsequent</pre><pre>events.</pre><!--egx--><pre>a) Basis of Presentation and Consolidation</pre><pre>&nbsp;</pre><pre>The financial&nbsp; statements&nbsp; of the Company have been prepared in accordance&nbsp; with</pre><pre>accounting&nbsp; principles&nbsp; generally&nbsp; accepted in the United States ("US GAAP") and</pre><pre>are expressed in U.S. dollars. The Company's fiscal year end is May 31.</pre><pre>&nbsp;</pre><pre>The consolidated&nbsp; financial&nbsp; statements&nbsp; include the accounts of our company and</pre><pre>its wholly-owned&nbsp; subsidiary,&nbsp; Sharelink.&nbsp; All significant intercompany accounts</pre><pre>and transactions&nbsp; have been eliminated,&nbsp; and Sharelink had no operations to date</pre><pre>other than incorporation fees.</pre><!--egx--><pre>b) Use of Estimates</pre><pre>&nbsp;</pre><pre>The&nbsp; preparation&nbsp; of financial&nbsp; statements in&nbsp; conformity&nbsp; with US GAAP requires</pre><pre>management to make estimates and assumptions that affect the reported amounts of</pre><pre>assets and&nbsp; liabilities&nbsp; and disclosure of contingent&nbsp; assets and liabilities at</pre><pre>the date of the financial&nbsp; statements&nbsp; and the reported&nbsp; amounts of revenues and</pre><pre>expenses during the reporting period. The Company regularly&nbsp; evaluates estimates</pre><pre>and assumptions&nbsp; related to the deferred income tax asset valuation&nbsp; allowances.</pre><pre>The Company bases its estimates and &nbsp;assumptions&nbsp; on current&nbsp; facts,&nbsp; historical</pre><pre>experience and various other factors that it believes to be reasonable under the</pre><pre>circumstances,&nbsp; the results of which form the basis for making&nbsp; judgments&nbsp; about</pre><pre>the&nbsp; carrying&nbsp; values of assets&nbsp; and&nbsp; liabilities&nbsp; and the&nbsp; accrual of costs and</pre><pre>expenses that are not readily&nbsp; apparent from other&nbsp; sources.&nbsp; The actual results</pre><pre>experienced&nbsp; by the&nbsp; Company&nbsp; may&nbsp; differ&nbsp; materially&nbsp; and&nbsp; adversely&nbsp; from&nbsp; the</pre><pre>Company's&nbsp; estimates.&nbsp; To the extent there are material&nbsp; differences between the</pre><pre>estimates and the actual results, future results of operations will be affected.</pre><!--egx--><pre>c) Basic and Diluted Net Loss per Share</pre><pre>&nbsp;</pre><pre>The Company computes net loss per share in accordance with ASC 260, EARNINGS PER</pre><pre>SHARE.&nbsp; ASC 260&nbsp; requires&nbsp; presentation&nbsp; of both basic and diluted&nbsp; earnings per</pre><pre>share&nbsp; ("EPS") on the face of the income&nbsp; statement.&nbsp; Basic EPS is&nbsp; computed&nbsp; by</pre><pre>dividing net loss available to common&nbsp; shareholders&nbsp; (numerator) by the weighted</pre><pre>average number of shares outstanding&nbsp; (denominator)&nbsp; during the period.&nbsp; Diluted</pre><pre>EPS gives effect to all dilutive&nbsp; potential common shares outstanding during the</pre><pre>period using the treasury stock method and convertible preferred stock using the</pre><pre>if-converted&nbsp; method.&nbsp; In computing diluted EPS, the average stock price for the</pre><pre>period is used in determining&nbsp; the number of shares assumed to be purchased from</pre><pre>the&nbsp; exercise of stock&nbsp; options or&nbsp; warrants.&nbsp; Diluted EPS excludes all dilutive</pre><pre>potential shares if their effect is anti dilutive.&nbsp; As of November 30, 2012, the</pre><pre>Company had 2,900,000&nbsp; (May 31, 2012 - 1,250,000)&nbsp; potentially&nbsp; dilutive&nbsp; common</pre><pre>shares for the issuance of convertible debentures.</pre><!--egx--><pre>d) Reclassification</pre><pre>&nbsp;</pre><pre>Certain&nbsp;&nbsp; balances&nbsp; in&nbsp; previously&nbsp;&nbsp; issued&nbsp;&nbsp; financial&nbsp;&nbsp; statements&nbsp; have&nbsp; been</pre><pre>reclassified to be consistent with the current period presentation.</pre><!--egx--><pre>e) Interim Financial Statements</pre><pre>&nbsp;</pre><pre>These interim&nbsp; unaudited&nbsp; financial&nbsp; statements have been prepared in accordance</pre><pre>with accounting&nbsp; principles&nbsp; generally accepted in the United States for interim</pre><pre>financial information.&nbsp; They do not include all of the information and footnotes</pre><pre>required by generally&nbsp; accepted&nbsp; accounting&nbsp; principles&nbsp; for complete&nbsp; financial</pre><pre>statements.&nbsp; Therefore, these financial statements should be read in conjunction</pre><pre>with the Company's audited&nbsp; financial&nbsp; statements and notes thereto for the year</pre><pre>ended May 31, 2012.</pre><pre>&nbsp;</pre><pre>The financial&nbsp; statements included herein are unaudited;&nbsp; however,&nbsp; they contain</pre><pre>all&nbsp; normal&nbsp; recurring&nbsp;&nbsp; accruals&nbsp; and&nbsp; adjustments&nbsp; that,&nbsp; in&nbsp; the&nbsp; opinion&nbsp; of</pre><pre>management,&nbsp; are necessary to present fairly the Company's financial position at</pre><pre>November 30, 2012,&nbsp; and the results of its operations and cash flows for the six</pre><pre>month period ended&nbsp; November 30, 2012. The results of operations for the periods</pre><pre>ended&nbsp; November&nbsp; 30, 2012 are not&nbsp; necessarily&nbsp; indicative&nbsp; of the results to be</pre><pre>expected for future quarters or the full year.</pre><!--egx--><pre>f) Cash and cash equivalents</pre><pre>&nbsp;</pre><pre>The Company&nbsp; considers&nbsp; all highly liquid&nbsp; instruments&nbsp; with a maturity of three</pre><pre>months or less at the time of issuance to be cash equivalents.</pre><!--egx--><pre>g) Financial Instruments</pre><pre>&nbsp;</pre><pre>Pursuant&nbsp; to ASC 820,&nbsp; FAIR VALUE&nbsp; MEASUREMENTS&nbsp; AND&nbsp; DISCLOSURES,&nbsp; an entity is</pre><pre>required&nbsp; to&nbsp; maximize&nbsp; the use of&nbsp; observable&nbsp; inputs and&nbsp; minimize&nbsp; the use of</pre><pre>unobservable&nbsp; inputs when measuring fair value. ASC 820 establishes a fair value</pre><pre>hierarchy based on the level of independent,&nbsp; objective evidence surrounding the</pre><pre>inputs used to measure&nbsp; fair&nbsp; value.&nbsp; A&nbsp; financial&nbsp; instrument's&nbsp; categorization</pre><pre>within the fair value&nbsp; hierarchy is based upon the lowest level of input that is</pre><pre>significant to the fair value&nbsp; measurement.&nbsp; ASC 820 prioritizes the inputs into</pre><pre>three levels that may be used to measure fair value:</pre><pre>&nbsp;</pre><pre>LEVEL 1</pre><pre>&nbsp;</pre><pre>Level 1 applies to assets or&nbsp; liabilities&nbsp; for which there are quoted&nbsp; prices in</pre><pre>active markets for identical assets or liabilities.</pre><pre>&nbsp;</pre><pre>LEVEL 2</pre><pre>&nbsp;</pre><pre>Level 2 applies to assets or&nbsp; liabilities&nbsp; for which there are inputs other than</pre><pre>quoted&nbsp; prices that are&nbsp; observable&nbsp; for the asset or&nbsp; liability&nbsp; such as quoted</pre><pre>prices for similar assets or liabilities&nbsp; in active&nbsp; markets;&nbsp; quoted prices for</pre><pre>identical&nbsp; assets&nbsp; or&nbsp; liabilities&nbsp; in&nbsp; markets&nbsp; with&nbsp; insufficient&nbsp;&nbsp; volume&nbsp; or</pre><pre>infrequent&nbsp; transactions (less active markets);&nbsp; or model-derived&nbsp; valuations in</pre><pre>which significant&nbsp; inputs are observable or can be derived&nbsp; principally from, or</pre><pre>corroborated by, observable market data.</pre><pre>&nbsp;</pre><pre>LEVEL 3</pre><pre>&nbsp;</pre><pre>Level 3 applies to assets or liabilities for which there are unobservable inputs</pre><pre>to the valuation methodology that are significant to the measurement of the fair</pre><pre>value of the assets or liabilities.</pre><pre>&nbsp;</pre><pre>The&nbsp; Company's&nbsp; financial&nbsp; instruments&nbsp; consist&nbsp; principally&nbsp; of cash,&nbsp; accounts</pre><pre>payable&nbsp; and&nbsp; accrued&nbsp; liabilities,&nbsp; convertible&nbsp; debentures,&nbsp; and amount due to</pre><pre>related&nbsp; parties.&nbsp; Pursuant&nbsp; to ASC 820 and 825,&nbsp; the fair&nbsp; value of our cash is</pre><pre>determined&nbsp; based on "Level 1" inputs,&nbsp; which consist of quoted prices in active</pre><pre>markets for identical&nbsp; assets. We believe that the recorded values of all of our</pre><pre>other&nbsp; financial&nbsp; instruments&nbsp; approximate&nbsp; their current fair values because of</pre><pre>their nature and respective maturity dates or durations.</pre><!--egx--><pre>h) Recent Accounting Pronouncements</pre><pre>&nbsp;</pre><pre>The&nbsp; Company&nbsp; has&nbsp; implemented&nbsp; all new&nbsp; accounting&nbsp; pronouncements&nbsp; that are in</pre><pre>effect.&nbsp; These&nbsp; pronouncements did not have any material impact on the financial</pre><pre>statements&nbsp; unless&nbsp; otherwise&nbsp; disclosed,&nbsp; and the Company does not believe that</pre><pre>there are any other new&nbsp; accounting&nbsp; pronouncements&nbsp; that have been&nbsp; issued that</pre><pre>might have a material impact on its financial position or results of operations.</pre><!--egx--><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; November 30, 2012</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Carrying&nbsp;&nbsp;&nbsp;&nbsp; May 31, 2012</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Accumulated&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Net Carrying</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;Cost&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Amortization&nbsp;&nbsp;&nbsp;&nbsp; (unaudited)&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Value</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ----&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; ------------&nbsp;&nbsp;&nbsp;&nbsp; -----------&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; -----</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; $</pre><pre>Computer equipment&nbsp;&nbsp;&nbsp;&nbsp; 3,968&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 496&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; 3,472&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; --</pre><pre>&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; =====</pre>3699292900000125000039684963472040000098012500010000035000300000.10.10.10.10.100.100.100.1067473918440007700240001000003500030000756863568087728177403894689480509750000000299300000598000000.0010.0013000003000080000.95300000500005000050000500005000050000500003000000.9500014921352012-06-012012-11-3000014921352013-01-2200014921352012-11-3000014921352012-05-3100014921352012-09-012012-11-3000014921352011-09-012011-11-3000014921352011-06-012011-11-3000014921352010-02-032012-11-3000014921352011-05-3100014921352010-02-0200014921352011-11-3000014921352012-05-1800014921352012-07-1000014921352012-09-0700014921352012-10-1200014921352012-06-1800014921352012-06-2000014921352012-08-2800014921352012-07-1200014921352012-09-1500014921352012-11-1500014921352013-02-1500014921352013-04-1500014921352013-06-15sharesiso4217:USDiso4217:USDsharespure